Update to Instant Asset Write-Off Scheme $150,000

Update to Instant Asset Write-Off Scheme $150,000
11
Jun


Update to Instant Asset Write Off Scheme $150,000

Good Afternoon,

The Federal Government has just announced that the $150,000 instant asset write-off program has been extended to the 31st of December 2020. This is applicable for businesses with turnover of up to $500 million.

The instant asset write-off scheme enables businesses to immediately claim the value of an asset in the year of purchase instead of claiming deductions over multiple years.

For further information please don’t hesitate to contact us. Here is an article that has more information if you are interested –

https://www.smartcompany.com.au/coronavirus/instant-asset-write-off-extended/?utm_campaign=SC&utm_medium=email&utm_source=newsletter&utm_content=smartco_daily&utm_term=2020-06-09

If you have any concerns please do not hesitate to contact us.

Yours Sincrerely,

Scotia Online CIBC Online